NIB signs Arctic SME onlending facility with SpareBank 1 Helgeland
NIB has signed a 5-year Arctic loan agreement with SpareBank 1 Helgeland for onlending to small and medium-sized companies (SMEs) and environmental projects in northern Norway.
The loan aims to alleviate credit constraints for smaller companies, which are at a comparative disadvantage to facilitate productivity growth. SMEs and smaller mid-caps, which rely on bank financing, face greater challenges in accessing finance compared to large enterprises. Since these companies contribute significantly to aggregate output and employment in the member area, improved access to financing for productivity-improving projects can enhance the competitiveness and efficiency of markets.
“SpareBank 1 Helgeland’s ambition is to be a driving force for sustainable growth in the Helgeland region. Our long‑standing partnership with NIB helps us realise this ambition by putting us in a stronger position to finance projects and businesses in Helgeland with a clear sustainability profile,” says Hanne Nordgaard, Chief Executive of SpareBank 1 Helgeland.
The loan programme is allocated under NIB’s Arctic Facility and is the third loan agreed with Helgeland Sparebank. The first loan was allocated fully to SMEs, while the second loan was primarily for one large renewable energy-related project.
André Küüsvek, NIB President and CEO says: “NIB values SpareBank 1 Helgeland as a key partner for future collaboration and co-financing. This Arctic loan agreement strengthens our commitment to supporting SMEs and environmental projects in Northern Norway, fostering regional development and sustainability. By improving access to finance for smaller companies, we aim to boost productivity growth and market efficiency.”
SpareBank 1 Helgeland is a savings bank in Helgeland County, Northern Norway. In 2021, it joined the SpareBank 1 Alliance, a group of 12 Norwegian banks that collaborate to offer a comprehensive range of financial services to their customers.
NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.
Contacts
Jim Dahlström, Senior Banker, +358 10 618 0334, jim.dahlstrom@nib.int
Arild Moen, Associate Director, Communications, +358 10 618 0496, arild.moen@nib.int
